Systematic Literature Review on Risk Management and its Impact on Financial Performance Across Sectors
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| Format: | Recurso digital |
| Language: | English, Old (ca. 450-1100) |
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Zenodo
2026
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| _version_ | 1866901979813380096 |
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| author | Eko Marwansyah Andini Nurwulandari Irma Setyawati |
| author_facet | Eko Marwansyah Andini Nurwulandari Irma Setyawati |
| contents | <p>Managing risk effectively has become a critical function for organizations striving to maintain financial stability and competitive advantage in today’s uncertain and dynamic global economic environment. This systematic literature review (SLR) comprehensively examines the evolving relationship between risk management practices and financial performance across various sectors, with a particular focus on banking, finance, investment, and organizational management. By synthesizing a broad spectrum of peer-reviewed articles and conference proceedings published from 2010 to 2024, this review identifies key themes and advances in enterprise risk management (ERM), corporate governance, corporate social responsibility (CSR), and environmental, social, and governance (ESG) factors, while also exploring methodological and technological innovations that have transformed risk assessment and mitigation.Beyond traditional financial indicators, this review highlights the growing role of CSR and ESG initiatives in shaping organizational risk profiles and performance outcomes. Firms that embed social and environmental responsibilities into their core strategies tend to reduce risk exposure, create intangible value through enhanced reputation and stakeholder engagement, and build long-term financial resilience. Furthermore, the effective development of human capital and promotion of diversity and inclusion within organizations contribute to superior risk identification, innovation, and mitigation efforts, leading to improved financial performance.Advances in analytical approaches, including machine learning algorithms and multi-criteria decision-making models, are revolutionizing risk management capabilities by enabling more accurate prediction, real-time assessment, and dynamic response to emerging threats. These innovations pave the way for organizations to adopt proactive, data-driven risk policies and optimize portfolio management strategies under complex and uncertain conditions.The review also acknowledges important sectoral and geographic variations in risk management practices and effectiveness, driven by differences in regulatory frameworks, economic conditions, and cultural contexts. Particularly, developed markets tend to demonstrate standardized governance practices and sophisticated risk analytic adoption, while emerging markets reveal divergence in regulation and risk management maturity.</p> |
| format | Recurso digital |
| id | zenodo_https___doi_org_10_5281_zenodo_18298114 |
| institution | Zenodo |
| language | ang |
| publishDate | 2026 |
| publisher | Zenodo |
| record_format | zenodo |
| spellingShingle | Systematic Literature Review on Risk Management and its Impact on Financial Performance Across Sectors Eko Marwansyah Andini Nurwulandari Irma Setyawati Risk Management, Financial Performance, Corporate Governance, CSR, ESG, Banking Sector, Portfolio Management, Risk Committee <p>Managing risk effectively has become a critical function for organizations striving to maintain financial stability and competitive advantage in today’s uncertain and dynamic global economic environment. This systematic literature review (SLR) comprehensively examines the evolving relationship between risk management practices and financial performance across various sectors, with a particular focus on banking, finance, investment, and organizational management. By synthesizing a broad spectrum of peer-reviewed articles and conference proceedings published from 2010 to 2024, this review identifies key themes and advances in enterprise risk management (ERM), corporate governance, corporate social responsibility (CSR), and environmental, social, and governance (ESG) factors, while also exploring methodological and technological innovations that have transformed risk assessment and mitigation.Beyond traditional financial indicators, this review highlights the growing role of CSR and ESG initiatives in shaping organizational risk profiles and performance outcomes. Firms that embed social and environmental responsibilities into their core strategies tend to reduce risk exposure, create intangible value through enhanced reputation and stakeholder engagement, and build long-term financial resilience. Furthermore, the effective development of human capital and promotion of diversity and inclusion within organizations contribute to superior risk identification, innovation, and mitigation efforts, leading to improved financial performance.Advances in analytical approaches, including machine learning algorithms and multi-criteria decision-making models, are revolutionizing risk management capabilities by enabling more accurate prediction, real-time assessment, and dynamic response to emerging threats. These innovations pave the way for organizations to adopt proactive, data-driven risk policies and optimize portfolio management strategies under complex and uncertain conditions.The review also acknowledges important sectoral and geographic variations in risk management practices and effectiveness, driven by differences in regulatory frameworks, economic conditions, and cultural contexts. Particularly, developed markets tend to demonstrate standardized governance practices and sophisticated risk analytic adoption, while emerging markets reveal divergence in regulation and risk management maturity.</p> |
| title | Systematic Literature Review on Risk Management and its Impact on Financial Performance Across Sectors |
| topic | Risk Management, Financial Performance, Corporate Governance, CSR, ESG, Banking Sector, Portfolio Management, Risk Committee |
| url | https://doi.org/10.5281/zenodo.18298114 |